Large Cap

  • February 26, 2025

    Jailed Ex-FTX Exec's Lawyers Can't Drop From Ch. 11 Suit

    Attorneys from Montgomery McCracken Walker & Rhoads LLP representing former FTX Trading executive Ryan Salame cannot yet withdraw as his counsel in an adversary case seeking the return of $99 million in company funds after a Delaware bankruptcy judge said Wednesday he needed more information about the firm's difficulties in communicating with their incarcerated client.

  • February 26, 2025

    Willkie Wins Sanctions, But Fees Cut, In Old Asbestos Ch. 11

    Willkie Farr & Gallagher LLP has won sanctions against plaintiffs in the 1982 bankruptcy case of Johns Manville Corp., but the firm's fee award was drastically slashed after a New York judge found that lawyers had not provided enough details about their work.

  • February 26, 2025

    Joann To Wind Down Operations After Judge Approves Plan

    A Delaware bankruptcy judge on Wednesday approved renowned fabric and crafts retailer Joann Inc. to wind down its operations after a "global consensus" was reached among the debtor, lender and creditors committee, allowing the 80-year-old chain to hold going-out-of-business sales.

  • February 26, 2025

    Party City Approved To Sell IP, Assets For $20.6M In Ch. 11

    A Texas bankruptcy judge on Wednesday blessed retailer Party City's bid to sell its brand name and other intellectual property to an affiliate of pop culture merchandiser Ad Populum for $20.6 million, rejecting a challenge to the deal by franchise owners that claimed the buyer was ill-equipped to take on contracts with their stores.

  • February 26, 2025

    Judge Sets Deadline For Terraform Crypto Loss Claims

    A Delaware bankruptcy judge Wednesday approved a request by the Chapter 11 plan administrator of defunct cryptocurrency software developer Terraform Labs to set an April 30 deadline for any claims of losses from Terraform's collapsed stablecoin.

  • February 26, 2025

    Judge To OK Sale-Leaseback Of Big Lots HQ In Ch. 11

    A Delaware bankruptcy judge Wednesday agreed to allow discount retail chain Big Lots to sell its Ohio headquarters to hospital operator OhioHealth Corp. for $36 million and lease it back from the buyer until it wraps up its operations.

  • February 25, 2025

    Epiq Explains Ballot Flip In J&J Talc Unit's $10B Ch. 11 Plan

    A Texas bankruptcy judge Tuesday heard how a claims agent accepted a ballot that flipped some 11,000 already cast votes on the Chapter 11 plan of Johnson & Johnson's talc liability unit.

  • February 25, 2025

    Alex Jones Asks To Maintain Stay On Sandy Hook Payment

    Infowars founder Alex Jones told the Connecticut Appellate Court that he shouldn't be forced to pay the judgment that Sandy Hook families won in their long-running defamation case as he awaits a review by the state's Supreme Court, saying the plaintiffs are wrong that he discarded underlying constitutional arguments.

  • February 25, 2025

    How Joann's Bankruptcy Led To The Closure Of All Its Stores

    Over the weekend, Joann Inc., the renowned fabric and crafts retailer, announced plans to close all 800 of its stores nationwide and wind down operations, after failing to draw bids from any potential buyers who planned to keep the stores open.

  • February 25, 2025

    NY AG Probe Latest Headache For Crumbling Property Empire

    Following New York's passage of a tenant-friendly rent law in 2019, a spate of distressed Emerald Equity Group LLC properties are facing foreclosure or bankruptcy. Now, scrutiny by the state Attorney General's Office has added a new layer to the landlord's ongoing struggles.

  • February 25, 2025

    Purdue Gets Time To Document New $7.4B Ch. 11 Settlement

    Counsel for bankrupt drugmaker Purdue Pharma received approval Tuesday for an extension of a mediation window during which litigation against nondebtors is paused after telling a New York judge that it has reached definitive terms on a new $7.4 billion settlement of opioid claims and needs time to finalize documentation surrounding the deal.

  • February 24, 2025

    Ex-Judge Hopes To Avoid Testimony In Atty Romance Probe

    Former Texas bankruptcy judge David R. Jones said Monday that he's been talking with the U.S. Trustee with the aim of avoiding "live trial testimony" in the probe of his undisclosed romantic relationship with a former Jackson Walker LLP partner, arguing that he's already given a deposition.

  • February 24, 2025

    Claimant Attys Explain J&J Ch. 11 Plan Vote Switch

    An attorney whose firm represented about 11,000 talc injury claimants told a Texas bankruptcy judge Monday about the process by which he cast ballots for his clients in favor of the $10 billion Chapter 11 plan settlement proposed by Johnson & Johnson's talc unit.

  • February 24, 2025

    La. Environmental Suits Not Discharged In Texaco's Old Ch. 11

    A New York bankruptcy judge has allowed Texaco to reopen its 37-year-old bankruptcy case to adjudicate environmental cleanup lawsuits worth up to $100 million filed by Louisiana government entities but declined to discharge the suits, finding they were carved out of the confirmed Chapter 11 plan.

  • February 24, 2025

    Seyfarth Hires Veteran Bankruptcy Atty For Chicago Office

    Seyfarth Shaw LLP hired a veteran bankruptcy and commercial litigation attorney as a partner for the restructuring and insolvency team in its Chicago office, the firm has announced.

  • February 24, 2025

    Wellpath Delays Chapter 11 Exit To Buy Time For Creditor Deal

    Wellpath will delay confirmation of its Chapter 11 plan by two weeks to buy time to work through objections to the reorganization of its prison healthcare business, attorneys told a Texas bankruptcy judge Monday.

  • February 24, 2025

    Purdue's New Ch. 11 Plan Sidesteps Nonconsensual Releases

    Mediators helping to craft a new settlement in the case of bankrupt OxyContin maker Purdue Pharma LP said in their latest update in New York bankruptcy court that the company's revised deal does not contain nonconsensual third-party waivers.

  • February 24, 2025

    Spirit's Ch. 11 Marks Shift To Debt Reduction Over Cost Cuts

    With fresh court approval of its Chapter 11 plan in hand, Spirit Airlines is set to emerge from bankruptcy carrying $795 million less in debt, marking a new generation of air carriers to file for bankruptcy in order to shave debt rather than cut operating costs, according to a Fitch Ratings report.

  • February 24, 2025

    Spirit Gets Ch. 11 Plan OK; J&J Unit Brings Ch. 11 Plan To Trial

    A bankruptcy judge gave Spirit Airlines the all-clear to eliminate nearly $800 million in debt while giving creditors control over the business; Johnson & Johnson's talc spinoff went to trial over a proposed Chapter 11 plan; and the U.S. Trustee's Office took issue with the final $52 million fee application from lawyers for a New York Catholic diocese.

  • February 24, 2025

    High Court Won't Hear Bankruptcy 'Safe Harbor' Dispute

    The U.S. Supreme Court declined Monday to hear a dispute over what transactions are protected from clawback by a trustee, leaving in place a Second Circuit decision finding that the U.S. Bankruptcy Code's safe harbor provisions trump the trustee's state-law based fraudulent transfer claims.

  • February 24, 2025

    Steward Health Risking Patient Lives At Hospitals, Buyer Says

    The buyer of eight Steward Health Care hospitals said the bankrupt company is putting patients' lives at risk by failing to provide funds and services it promised, urging a Texas federal judge to compel Steward to comply with contracts it signed as part of its hospital sales.

  • February 24, 2025

    Zips Car Wash Gets 4-Member Ch. 11 Creditor Committee

    The U.S. Department of Justice's bankruptcy watchdog named landlords and trade vendors to advocate for unsecured creditors slated to get no recoveries in the Texas Chapter 11 of Zips Car Wash.

  • February 24, 2025

    Yellow Corp. Gets OK To Sell More Terminals For $15.1M

    A Delaware bankruptcy judge has signed off on Yellow Corp.'s $15.1 million sale of trucking terminals and other property to three buyers, as the defunct trucking company looks to add to the more than $2 billion it has already brought in from asset sales in Chapter 11.

  • February 21, 2025

    J&J Talc Spin-Off Trial Details Law Firms' Rift Over Ch. 11 Deal

    Personal injury attorneys on Friday described how their firms' long relationship turned sour last summer during the fourth day of trial in the Texas bankruptcy of Johnson & Johnson's talc spin-off.

  • February 21, 2025

    Real Estate Recap: 'Park Ave' Effect, Federal Leases, Atty Hires

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including a fourth-quarter "Park Avenue Phenomenon" seen by top brokerages, industry reaction to the potential federal lease slimdown, and a senior analyst's projection for family office investment in commercial real estate.

Expert Analysis

  • Crypto Has Democratized Trading In Bankruptcy Claims

    Author Photo

    Following the pandemic, there has been a wave of cryptocurrency bankruptcies and a related increase in access to information, allowing nontraditional bankruptcy investors to purchase claims and democratizing a once closed segment of alternative investing, says Joseph Sarachek at Strategic Liquidity.

  • The Case For Post-Bar Clerk Training Programs At Law Firms

    Author Photo

    In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.

  • 5 Key Tips For Attorneys In The Subchapter V Arena

    Author Photo

    Subchapter V cases present unique challenges for the nondebtor parties-in-interest, and habits developed by attorneys in typical Chapter 11 cases do not necessarily translate, meaning creditors and their counsel should quickly take a proactive role in their cases to protect their interests, which can be done by attending the 341 meeting, analyzing the plan, and more, says Kelly Singer at Squire Patton.

  • Attorneys Have An Ethical Duty To Protect The Judiciary

    Author Photo

    The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.

  • Why The Debt Maturity Wall Is Still A Figment, For Now

    Author Photo

    While the phenomenon of the debt maturity wall — a growing wall of staggered corporate debt maturities — has been considered a looming problem since the aftermath of the 2008 global financial crisis, it’s unlikely to have significant consequences before 2025 due to factors such as quantitative easing and evolved lending practices, says Michael Eisenband at FTI Consulting.

  • AI Can Help Lawyers Overcome The Programming Barrier

    Author Photo

    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

  • 10 Essential Bankruptcy Litigation Tips For In-House Counsel

    Author Photo

    Bankruptcy litigation is a complex and multifaceted area of law that poses unique challenges for in-house counsel, and there are several tools at legal professionals' disposal, like appraisals and understanding jurisdictions, to stay well-informed and protect their companies' interests, says Alison Ashmore at Dykema.

  • Preparing Law Students For A New, AI-Assisted Legal World

    Author Photo

    As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.

  • Sellers Seeking Best Deal Should Focus On Terms And Price

    Author Photo

    Rising interest rates and a decline in the automotive mergers and acquisitions market mean that a failed deal carries greater stakes, and sellers therefore should pursue not only the optimum price but also the optimum terms to safeguard their agreement, says Joseph Aboyoun at Fox Rothschild.

  • General Counsel Need Data Literacy To Keep Up With AI

    Author Photo

    With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.

  • Rite Aid's Reasons For Ch. 11 Go Beyond Opioid Suits

    Author Photo

    Despite opioid-related lawsuits being the perceived reason that pushed Rite Aid into bankruptcy, the company's recent Chapter 11 filing reveals its tenuous position in the pharmaceutical retail market, and only time will tell whether bankruptcy will right-size the company, says Daniel Gielchinsky at DGIM Law.

  • Navigating Discovery Of Generative AI Information

    Author Photo

    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

  • Finding Focus: Strategies For Attorneys With ADHD

    Author Photo

    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

Can't find the article you're looking for? Click here to search the Bankruptcy Authority Large Cap archive.